DA Davidson Boosts Earnings Estimates for Flushing Financial

Flushing Financial Co. (NASDAQ:FFIC - Free Report) - Equities research analysts at DA Davidson increased their FY2024 EPS estimates for Flushing Financial in a research report issued on Thursday, November 7th. DA Davidson analyst M. Navas now expects that the bank will earn $0.78 per share for the year, up from their prior estimate of $0.70. The consensus estimate for Flushing Financial's current full-year earnings is $0.75 per share. DA Davidson also issued estimates for Flushing Financial's Q4 2024 earnings at $0.19 EPS.

FFIC has been the subject of a number of other reports. Piper Sandler downgraded shares of Flushing Financial from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $15.00 to $16.50 in a research note on Tuesday, July 30th. StockNews.com raised Flushing Financial from a "sell" rating to a "hold" rating in a research note on Thursday. Raymond James lifted their price objective on Flushing Financial from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods increased their target price on Flushing Financial from $13.00 to $15.00 and gave the company a "market perform" rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.50.

Flushing Financial Trading Up 2.4 %

FFIC stock traded up $0.41 during midday trading on Friday, reaching $17.49. The stock had a trading volume of 126,774 shares, compared to its average volume of 182,151. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.19. The firm has a market cap of $508.43 million, a price-to-earnings ratio of 19.63 and a beta of 0.75. The business has a fifty day simple moving average of $14.73 and a two-hundred day simple moving average of $13.68.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Flushing Financial by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank's stock valued at $20,295,000 after purchasing an additional 5,933 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Flushing Financial by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank's stock worth $15,249,000 after buying an additional 11,285 shares during the last quarter. Dana Investment Advisors Inc. lifted its stake in Flushing Financial by 11.5% in the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank's stock valued at $5,960,000 after acquiring an additional 46,800 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Flushing Financial by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank's stock valued at $5,947,000 after purchasing an additional 62,659 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Flushing Financial by 38.1% in the 2nd quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank's stock valued at $4,874,000 after purchasing an additional 102,219 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.

Insider Activity at Flushing Financial

In other Flushing Financial news, Director Sam Sang Ki Han sold 10,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the transaction, the director now directly owns 67,251 shares of the company's stock, valued at approximately $1,040,372.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $15.47, for a total transaction of $154,700.00. Following the completion of the sale, the director now owns 67,251 shares of the company's stock, valued at $1,040,372.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Astrid Burrowes sold 8,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the sale, the chief accounting officer now directly owns 34,853 shares in the company, valued at $564,270.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,500 shares of company stock worth $344,925 in the last quarter. Corporate insiders own 6.31% of the company's stock.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Friday, September 6th. Flushing Financial's dividend payout ratio is currently 101.15%.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.